minicipal finance and public private partnership-eng

The Study on City Master Plan and Urban Development Program of Ulaanbaatar City (UBMPS)Intensive Learning Session on Urban Planning under Market Economy

1

Municipal Finance Municipal Finance and Public-Private and Public-Private PartnershipPartnershipMasayoshi IwasakiMasayoshi IwasakiImplementation Plan and Cost EstimateImplementation Plan and Cost Estimate

July 30 2007July 30 2007


2

1. Municipal Finance1) Principles of Municipal Finance2) Municipal Finance Model3) Experiences in Different Countries - Japan, UK, USA and Singapore


3

Future Financing Gap

-

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

VND billion

Gap to be filled

VND billion

Past Achievement(including ODA)

Master Plan(assuming growthof 10%/year,andExcluding ODA)

Past Local Expenditure Compared with Proposed Transporation Investment


4

OECDAvg.

Nederland, 　

UK

Austria, Sweden

Mongolia(2005)

UB City(2007B)

Local Gov’t

Revenue

Grants & Subsidies

30-40% 70%> 20%< 8% 11%

Local Revenue

60-70% 30%< 80%> 91% 89%

Structure of Municipal Revenue


5

Sources of Municipal Revenue

Cent ral Government

Cent ral Government

Transfer

Project s by Line Minist r ies

Line Minist r ies

Local Government Budget

Total Revenue in t he Terr it ory of Local Government

Budget

100%

Non Tax Revenue

Ow n Revenue(Tax, Charge,

Fee)

Cent ral Government

Revenue

Shared Revenue(Tax, Charge, Fee)

Geographical Ter rit ory of Local Government

I mplement at ion

100% X% Y% 100%

Transfer

Local Revenue Port ion

Cent ral Government

Cent ral Government

Transfer

Project s by Line Minist r ies

Line Minist r ies

Local Government Budget

Total Revenue in t he Terr it ory of Local Government

Budget

100%

Non Tax Revenue

Ow n Revenue(Tax, Charge,

Fee)

Cent ral Government

Revenue

Shared Revenue(Tax, Charge, Fee)

Geographical Ter rit ory of Local Government

I mplement at ion

100% X% Y% 100%

Transfer

Local Revenue Port ion


6

Municipal Finance Model


7

Sources of Capital Financing

Capital Financing(Projects)

Public Funding(Tax)

User Charge(Toll, Fare, Water Charge, etc)

Beneficiary Charge(Developer Contribution, etc)

(Sources)


8

Matching of Cost and Benefit

Infrastructure Investment

Economic & Social Benefit of Service

Service Beneficiaries (Service Users)

0 tEconomic Service Life of Infrastructure

Benefit Benefit

Share of Investment Cost by Long-term Borrowing

Operation and Maintenance Costs

Tax Payment User Charge

Recurrent Costs

Capital Cost

Matching of Cost

and Benefit


9

Three Targets for Municipal Finance

PrepareStrategic

Plan

Make Efficient

Use of Existing Funding Sources

Expand Local Revenue Base

Good Mgt of Capital Financing

Achieve Stable CF and Credit-

worthiness

Long-term Borrowing

for Capital

Investment

Special account of earmarked taxes/Leveraging ODA funding/PPP/PFI

Benefit based fees/charges/taxes

/Value capture methods

Local government bond/ project bond/ state revolving fund

1

2

3


10

Experiences in Different Countries

UK: PPP/PFI

USA:SRF&VC

Singapore:TDM&RP

Japan:- Earmarked Tax- Gov’t Guart’d Bond- Urban Planning Tax


11

Japan: Earmarked Taxes

Gasoline T

axG

asoline Tax

Benzine Oil Tax2,836.5BJY

Benzine Oil Tax2,836.5BJY

Local Road Tax303.5BJY

Local Road Tax303.5BJY

State Tax 4,293.3BJY

Oil&Gas Tax28.0BJYN

Oil&Gas Tax28.0BJYN

Vehicle Weight Tax1,125.3BJY

Vehicle Weight Tax1,125.3BJY

Vehicle Registration Tax485.7BJY

Vehicle Registration Tax485.7BJY

Light Oil Business Tax1,247.2BJY

Light Oil Business Tax1,247.2BJY

Local Tax 1,732.9BJY

General State Budget for Road

About 30% of Total Public Works

Budget: 9.4TJY

General State Budget for Road

About 30% of Total Public Works

Budget: 9.4TJY

Road Development Special Account

Road Development Special Account

Road Development Budget

for Local Roads

Road Development Budget

for Local Roads

100%

100%

25% 709.1BJY Direct transfer

75% 2,127.4BJY 2,816.6BJY

100%

50%

50% 75%

25%

Transfer

3,525.7BJY

2,330.0BJY


12

Japan: Japan Highway Public Corporation

JH: Project Funding

State Equity State Subsidy Expwy Bond Bank Debt Social Infra Proj.Revenue

Own Fund

Public OfferBond

State Underwritten

Bond

Private PlacedBond

Foreign PlacedBond

MOFFund

PostalFund

State Budget

State Guart’d


13

Japan: JH Annual Budget Breakdown

Construction 12,874 Admin. Costs 34,361

State Guaranteed Bond 4,002

Toll Revenue, etc22,076

Revenue

Expenditure

Improvement 3,950 Surveys 69 IDC 2,031

Private Borrowing

4,500

State Equity 1,374State subsidy 1,131 Social Infra Proj. Revenue 64

Private Placed Bond 1,290

Foreign Bond 1950

Total: 53,285 ( in 100Million Yen)


14

Japan: Urban Planning Tax Urban Planning Facilities (road, urban rail,

bus terminal, parks, utilities, waste disposal, etc) & Urban Development

Property owners – with property tax Property value x 0.3% Share of UPT in the municipal revenue

Nation: 6%, Large Cities 8%

Property Tax (46%: 8.7tri¥) 6%

Urban Planning Tax (6%: 1.2tri¥)

Personal Income Tax (29%: 5.5tri¥)

12% 7%

Other (7%: 1.4tri¥)

Corporate Income Tax (12%: 2.2tri¥)

Total Municipal Revenue in Japan: 19.5 tri ¥ (2005)

Property Tax (46%: 8.7tri¥) 6%

Urban Planning Tax (6%: 1.2tri¥)

Personal Income Tax (29%: 5.5tri¥)

12% 7%

Other (7%: 1.4tri¥)

Corporate Income Tax (12%: 2.2tri¥)

Total Municipal Revenue in Japan: 19.5 tri ¥ (2005)


15

UK: PPP/PFI -> Next Section


16

USA: SRF and Value Capture: SRF Structure

Reserve Fund Project Fund

State GrantFederal Grant

Credit Support

Bond Sold in Capital Market

project project project

Individual Loans at Municipal Level


17

SRF: 5 Layers of Credit SupportLayer 1Layer 1: Municipality’s promise

To repay using general tax and transfer revenue

Layer 2Layer 2: Interest earned To accumulate to strengthen credit, support

additional lending, adm. cost,etc

Layer 3Layer 3: Aid Intercept mechanism To intercept transfer payment from state to local

Layer 4Layer 4: Guarantee Municipality’s obligation, Fund’s obligation

Layer 5Layer 5: Certainty of the existence of the fund

For the terms of the loans


18

SRF: UB City Version

SRF(Escrow acct)

InvestorsBanks

Management

Proceeds

City project City project City project

Foreign Financial Institution

Bond Issue

Reserve Fund(Escrow acct)

ODA Grant

UB CityGOM

ODA Donors

TA FundCredit support

ODA Grant

Grant

TAsupport

Loan Loan Loan


19

Value Capturing

Tax and User Charge

Beneficiary Charge

Tax and User Charge

Beneficiary Charge

UMRT Line

External Benefit of UMRT system


20

Methods Description

1. Impact Fees Burden charge for service users; such as drainage impact fee collected at permit

2. Development Taxes Local infrastructure tax on construction and reconstruction of building based on assessed value

3. Capital Contribution Fees collected from builders and developers based on for their peak demand of water, sewer

4. Special Construction Responsibility.

Cost sharing by builders and developers for the cost of distribution lines, water pumping stations, sewage lifting facilities, etc.

5. Special Assessment Fees based on the assessment of costs of public improvements against properties benefiting from the improvements (e.g. a new road, water line, etc)

6. Tax Increment Financing

Assess the property tax levy in an area designated by the local government and issues bonds to be paid off with the projected increase tax revenues

Value Capture Methods


21

Singapore: TDM and ERP The first urban

congestion charging system

Area Licensing Scheme (ALS) in 1975 => RPS in1995 for expressways

Upgraded to ERP in 1998 All vehicle to enter the

cordon 0730 – 1900 In Vehicle Unit (IVU) with

smart card Since the change ALS to

ERP daily reduction of 15%

Attain the desired optimal speed range of 20 – 30 km/h, expressway for 45-60km/h during peak period

ERP Revenue for Traffic Improvement


22

ERP System in Singapore

Gantry Cameras (behind the gantry)


23

2. Public-Private Partnership

1) Principles of PPP2) Structuring a PPP Project3) Case Studies


24

What is PPP?

PPP is a method of providing public services under the partnership between the public and private sectors


25

Government’s functions shifting from providing public services itself towards becoming a “manager of the providers” ….

100% Public Initiative

100% Private Initiative

PPP ConceptPPP Concept

Part of Capital Investment

Overall Management

Part of Capital Investment

Operation & Maintenance

PPP

PFI

ConcessionConcession

OutsourcingOutsourcing

PrivatizationPrivatization Joint VentureJoint Venture

Sales Sales LeasebackLeaseback

Wider MarketWider MarketInitiativeInitiative

PPP …. ?


26

PPP Modality

Work &Services Contract

Management & Maintenance Contract

O & M Con-cessions

ROT/RO 　

Concessions

BLT/BTO/ BOT/BOO

　 Concessions

Strategic Partnership

Low HighExtent of private sector participation

Public Private Partnership

FullPrivatization

DB/BT or Turn Key

No Facility Investment With Facility Investment


27

Investment Trend/ World wide

114 US$B

64 US$B


28

Value for Money Mechanism~ How to structure a PPP project ~

Principle 1

Private

Principle 2 Transfer Risks and Clarify Responsibilities

Principle 3

Principle 4

Conventional Method PPP

Value for Money (VFM) Target Quality at Best Price for the Tax Payer

Output Specification

Risk Transfer/ Contract

Competition/Know how/Finance

Assessment of VFM

Compete, Innovation, Cost down, Finance

Specify Service Output

Public


29

VFM Maximization by PPP

VFMVFMRisk Cost

Repair/Renewal Cost

Operation/MaintenanceCost

Project Formation Cost

Total Payment for Service Charges

Construction Cost

Publ

ic S

pend

ing

ConventionalPublic Initiative PPP

NPV


30

Three Funding Sources for PPP

PPP

Public Funding(Tax)

User Charge(Toll, Fare, Water Charge, etc)

Beneficiary Charge(Developer Contribution, etc)

(Sources)


31

Why and When “PPP”?

Fund Shortage in Infra Dev’t

Fund Shortage in Infra Dev’t

Inefficiency in Public Service

Provision

Inefficiency in Public Service

Provision

Focus on Private sector

Know How & Fund

Focus on Private sector

Know How & Fund

Application of User Charge

Model

Application of User Charge

ModelPPP ModelPPP Model

Problem in Regulatory Framework & Project Structure

Financial Crisis


32

Disadvantage

Conventional vs. PPP

Slow in implementation Low competition => Expensive Little innovation

Certainty in implementation

Complexity and uncertainty in implementation

Requirement of expertise and capacity building on public sector

Proper regulatory and institutional framework

Less financial burden High competition => VFM Innovation, many options, easy to

privatize Output-Based service delivery? Fast procurement => “buying time at

expensive price”

Conventional PPP

Advantage

Disadvantage

Advantage


33

Project Formation1. Recognition of Project Environments1. Recognition of Project Environments

2. Preliminary Project Structuring2. Preliminary Project Structuring

4. Market Sounding4. Market Sounding

5. Detailed Project Structuring5. Detailed Project Structuring

6. Contract Framework6. Contract Framework

3. Risk Recognition and Risk Allocation3. Risk Recognition and Risk Allocation

7. Bidding Preparation/ PPP Bidding7. Bidding Preparation/ PPP Bidding


34

PPP – Three Models

Retail Model Whole Sale Model Service Purchase Model And a mixture of above three


35

Retail Model:Toll Road, Telecommunication, Water Supply(Distribution), etc

Public SectorPublic SectorPublic SectorPublic Sector ProjectProject CompanyCompany

ProjectProject CompanyCompany Service UsersService UsersService UsersService Users

PPP Contract

Service

User Charge


36

Whole Sale Model:Availabil i ty Concept : Power Generation, Water Supply(Bulk Water), Rail Transit, etc

Public SectorPublic SectorPublic SectorPublic Sector

Public Service Public Service ProviderProvider

Public Service Public Service ProviderProvider

Project Project Company Company

Project Project Company Company

PPP Contract

Service

User Charge

Service Purchase

Agreement

Service

Service UsersService UsersService UsersService Users

Service Payment

Performance Guarantee


37

Service Purchase Model:PFI Service Purchase Concept: Hospital, School, Prison, IT System, Office Accommodation, etc.

Public SectorPublic SectorPublic SectorPublic Sector ProjectProject CompanyCompany

ProjectProject CompanyCompany Service UsersService UsersService UsersService Users

PPP Contract

Service

Service Payment


38

Pro-Poor

Payment by Beneficiary

Subsidy

Actu

al Paym

ent

Current Public ServiceCurrent Public Service Market Efficiency Gap

Can be Solved by Improvement of

Efficiency inService Provision

Market Efficiency Gap



Real Access Gap

Only Solvable WithPolicy Intervention such as Subsidy

Real Access Gap


ImprovementImprovement

Current Public ServiceCurrent Public Service Market Efficiency Gap



Market Efficiency Gap



Real Access Gap


Real Access Gap


ImprovementImprovement


39

Project Structuring - Viabil i ty Gap

Equity

Debt

Viability Gap Funding

O&M Cost

Principal & Interest Payment

Revenue

Time

Profit

0

Investm

ent

Equity

Debt

Viability Gap Funding

O&M Cost

Principal & Interest Payment

Revenue

Time

Profit

0

Investm

ent


40

Unbundling

PowerPower WaterWater AirportAirport RoadRoad RailRail

Private Generation Treatment Terminal Toll Facilities/Pavement

Rolling Stocks /EMS

Public Transmission Distribution Runway Road Structure, Civil works

Carriageway, Civil works

Public Distribution Dam


41

Unbundling-RailwayFunctionFunction

Public OperationOperation

Private MaintenanceMaintenance: Rolling Stocks, EMS, Depot buildings & facilities

Private ConstructionConstruction: Rolling Stocks, EMS, Depot buildings & facilities

Public ConstructionConstruction: Carriageway, Stations, Depot platform

Public AcquisitionAcquisition: ROW


42

UK: Dockland Lewisham Extension Project

BLT 3.8km (incl. Tunnel 1km) Opened in 2000 Concession 24.5yr Project size: 200M ￡


43



44


Ministry of Env. & Transport

John Mowlem (40%)Hyder (40%)Mitsui (12%)London Elect’y (8%)

City Greenwich Lewisham Rail Link

PLC(CGLR)

City Greenwich Lewisham Rail Link

PLC(CGLR)

MitsuiLondonElect’y

Government(State and Local)

BZW

Insti’l Investors(Pension Fund, Life insurance)

Rating AgencyDuff&Phelps

“A” Rating

Bank of ScotlandBank of Tokyo-

Mitsubishi

Inter-creditor Agreement

Midland Bank

Syndicate Banks

Agent Bank

Docklands Light Railway

Concession Contract

Availability Fee/ Usage Fee

(Fixed in first 10Years)

Guarantee (when return of subsidy is necessary)

Mitsui (Tunnel)-Nishimatsu(sub.cont.)Mowlem (Ground work)Alcatel (Signal)London Elec’y (Electric)

Construction Contract

Subsidy 55.8 M ￡

Equity 12.5 M ￡ Mezzanine 4.5 M ￡

Bond Issue 165 M ￡

Loan 30 M ￡

Advisor

City of Lewisham

Subsidy (not necessary to return when target completion met)


45

4.2km (incl. Tunnel 1km)

Opened in 2000 Concession 24.5yr Grantor: Docklands

Light Railway Ltd.(DLR)

Project Company (figure)

Project size: 200M ￡ DLR

22km, 27stn, Auto-driven, Greenwich-Lewisham, connecting BR

Risk Allocation Project Co: DBF+M DLR: O Subsidy:

• State: 50M ￡• Local: 7M ￡

Land: DLR

Payment BLT, Facility leased to DLR Availability Fee for first 10yr Usage Fee afterwards

Returned free after the period

UK: PPP/PFILewisham Extension Project


46

Payment Mechanism

10 years Time

Usage Payment

0

Pa

ymen

t (De

man

d G

row

th)

10 years

Availability Payment

Base Usage Payment

Risk and Revenue Sharing :

Public 70%Private 30%



Risk Share

RevenueShare

10 years Time

Usage Payment

0

Pa

ymen

t (De

man

d G

row

th)

10 years

Availability Payment

Base Usage Payment





Risk Share

RevenueShare


47

Unbundling-ExpresswayFunctionFunction

Private OperationOperation

Private MaintenanceMaintenance: All Road Facilities

Private ConstructionConstruction: Toll Booths, Pavement, Lighting Facilities

Public ConstructionConstruction: Road Structure, Civil Works

Public AcquisitionAcquisition: ROW


48

BTO (Two Tier System) 15.6km Planning Stage Concession: Endogenous

(30yr) Project size: 360M$

(55%:Public, 45%: Private)

Existing R10 Road

Phil ippines: Manila Toll Road


49

Public and Private Risk Sharing

StructurePrivate

(R10+R10/C5)

StructurePublic

(C3/R9)

Pavement Pavement

Toll Facilities, etc


50

Investment and Financing

C3/R9 Segment Construction = P6,871m ROW =0.0 Stand-alone FIRR = 13.5%

Financing Plan Gov’t accounts = P 1,328m Loan (ODA) = P 5,543m

R10+R10/C5Link Construction = P6,876m ROW = P350.0m FIRR = 16.5% with

revenues of C3/R9 Financing Plan

Private Equity = P 1,719m Domestic Debt = P 2,063m Foreign Debt = P 3,094m

Total Project Cost = P13,747.3 mill ionGovernment SupportGovernment Support Private Sector Funding


51

Phil ippines: Manila Toll Road

ODA DONER

DPWH

LOAN AGREEMENT

CONTRACTORS

TOLL ROADFACILITIES

TOLL ROADFACILITIES

EPCCONTRACTOR

(CONSTRUCTION PHASE)OPERATOR

PRIVATEPPP

COMPANY

PRIVATEPPP

COMPANY

DPWH

(GRANTOR OFCONCESSION)

TRB

SHAREHOLDERS

FINANCIERS

INSURANCECOMPANY

BIDDING TOLL OPERATING CERTIFICATE

CONCESSION AGREEMENT

CONCESSION RIGHT(SECTION A & B)

EQUITY

DEBT/SUB-DEBT

O & M CONTRACTEPC CONTRACT

CONSTRUCTION

CONSTRUCTION

DISBURSE

OPERATION

SECTION AC3/R9 (PUBLIC)


TOLL ROADFACILITIES

TOLL ROADFACILITIES

SECTION BR10+R10/C5(PRIVATE)


PROJECT MANAGER

PROJECT/CONSTRUC-TION MANAGEMENT

ODACONSULTANT

INDEPENDENT CONSULTANT

ODA Financing Private Financing

ODA DONER

DPWH

LOAN AGREEMENT

CONTRACTORS

TOLL ROADFACILITIES

TOLL ROADFACILITIES

EPCCONTRACTOR

(CONSTRUCTION PHASE)OPERATOR

PRIVATEPPP

COMPANY

PRIVATEPPP

COMPANY

DPWH

(GRANTOR OFCONCESSION)

TRB

SHAREHOLDERS

FINANCIERS

INSURANCECOMPANY

BIDDING TOLL OPERATING CERTIFICATE

CONCESSION AGREEMENT

CONCESSION RIGHT(SECTION A & B)

EQUITY

DEBT/SUB-DEBT

O & M CONTRACTEPC CONTRACT

CONSTRUCTION

CONSTRUCTION

DISBURSE

OPERATION



TOLL ROADFACILITIES

TOLL ROADFACILITIES



PROJECT MANAGER

PROJECT/CONSTRUC-TION MANAGEMENT

ODACONSULTANT

INDEPENDENT CONSULTANT

ODA Financing Private Financing


52

Delay Issues

F/S, EIA

Request for ODA by NEDA

Selection of Consultant

Selection of Contractor

Approval of Bid Doc. & CA by NEDA

Selection of Concessionaire

Design & Construction

Commencement of Operation

Financial Close

2007

D/D & Bidding Documents

Preparation of Bid Document

PUBLIC SECTION (C3/R9)

Approval Process

ODA L/A

Construction

PRIVATE SECTION (R10+R10/C5)

2003 2004 2005 2006 20122008 2009 2010 2011

ROW

ROW

Concession Right

Operation

NTP

Design start

Liquidated Damage, Early completion bonus

Eff icient ODA Process

Head start of construction

ROW by Government


53

Endogenous Concession – Target Cumulative Revenue (TCR)

Government will set the Toll Level Private Bidders will bid its TCR =>

Lowest TCR => Winning Bidder Concession will expire when

cumulative revenue hits the TCR 5 year extension option after 30 years

for the TCR


54

PPP – Urban Development

Land Owners /Communities- Participation to

Urban Development- Express opinions

as stakeholders

Public PrivatePartnership Program

- Selection ofConcessioner

- Financial management- Project Management Private Developer /

Operator- Investment for Urban /Commercial / transport

Development- Operation andmanagement

Public Secor- Development initiative- Regulatory Framework- Construction of public

facilities- Schme Design

- Advisory and support on PPP

Establishment & guidanceand support

Investment in landdevelopment fordevelopment

Participation todevelopmennt

DevelopmentBenefit

Good InvestmentReturn

Good Public Service


55

Preparation of Attractive Investment Packages

Development Tools - Development Charge - Developer Contribution - Special Assessment District - Land Readjustment/ Urban Redevelopment - Land Auction/Sale of LUR/Land Lease - Public-Private Partnership 　　 > Unsolicited Joint Venture 　　 > Solicited Development Proposal

- etc.

Development Tools - Development Charge - Developer Contribution - Special Assessment District - Land Readjustment/ Urban Redevelopment - Land Auction/Sale of LUR/Land Lease - Public-Private Partnership 　　 > Unsolicited Joint Venture 　　 > Solicited Development Proposal

- etc.

Combination of Development ToolsCombination of Development Tools

Requirements ofIndividual Project

Components

Requirements ofIndividual Project

Components

Identification of Strategic

Projects and Actions

Identification of Strategic

Projects and Actions

Attractive Investment PackagesAttractive Investment Packages


56

Vietnam - HCMC Integrated Urban & Railway Development

UMRT Line 1: 19.1km, 638M$, Conventional Procurement, JBIC loan

14 Stations Station Vicinity Development: PPP Land Area: 45.0 ha UG: 5.6 ha Floor Area: 138.0 ha UG: 23.6 ha 1,273 M$ including infrastructure


57

Thu Duc-Cho Nho Station

- Sub CBD DevelopmentHCMC-PC

ConcessionaireConcessionaire

Feeder Bus Terminal Facilities

Community Facilities

High Rise Residential/ Commercial Developments

Feeder Bus Terminal and

Parking Facilities

District-PC (Thu Duc and 9), Other Agencies

Thu Duc New CBD Development Committee(Design competition, Development Plans)

Advice, Monitoring

Concession Contract

Feeder Public Transport Facility Development

Program (JBIC’sProgram Loan Package)

Government Offices, Community Center,

Healthcare Facilities, etc.

Construction Construction Design, Build, Finance, Manage

HCMC-PC

ConcessionaireConcessionaire

Feeder Bus Terminal Facilities

Community Facilities

High Rise Residential/ Commercial Developments

Feeder Bus Terminal and

Parking Facilities

District-PC (Thu Duc and 9), Other Agencies

Thu Duc New CBD Development Committee(Design competition, Development Plans)

Advice, Monitoring

Concession Contract

Feeder Public Transport Facility Development

Program (JBIC’sProgram Loan Package)

Government Offices, Community Center,

Healthcare Facilities, etc.

Construction Construction Design, Build, Finance, Manage

Land Use Right

Planning/ Design/ Funding

Developer Proposal and Contribution


58


59

Mien Dong Terminal - Bus Terminal/Commercial Dev’t

MOCPT/HCMC-PC

JV Co.(New Mien Dong

Terminal Co.)


Terminal Co.)Private Investor

Equity

Loan

Bank or Parent Co.

Finance

Dividend and Revenue Share

Land Use Right

(Equity in Kind)

Construction Company


Subcontractors/Tenants

Commercial & Maintenance

Contract

Bus Terminal

Bus Terminal/ Commercial Complex, Parking, Access road,

Pedestrian Bridge

Commercial, property management, maintenance

of the facilities

Bus Terminal Operation

Operation

Saigon Mass Transit

Authority

Escrow Acct

Funding Support

UMRT Line 1

OperationSubsidyMOCPT/HCMC-PC


Terminal Co.)


Terminal Co.)Private Investor

Equity

Loan

Bank or Parent Co.

Finance

Dividend and Revenue Share

Land Use Right

(Equity in Kind)

Construction Company


Subcontractors/Tenants

Commercial & Maintenance

Contract

Bus Terminal

Bus Terminal/ Commercial Complex, Parking, Access road,

Pedestrian Bridge

Commercial, property management, maintenance

of the facilities

Bus Terminal Operation

Operation

Saigon Mass Transit

Authority

Escrow Acct

Funding Support

UMRT Line 1

OperationSubsidy


60


61

Tsukuba Хурдан Галт Тэрэг– Хотын

Tsukuba Express Construction:1992-2005 58.3km (Akihabara-Tsukuba

Science City) 20 stations (7 underground) Metropolitan Railway Co.,Ltd.

(Shareholders: Local government along the coridor + 207 Private Co.s)

Finance: 1.05 Tri.Yen (8,500M$)• 40% Non-interest Loan from

Central Gov’t• 40% Non-interest Loan from

Local Gov’t• 20%Equity and Gov’t Loan


62

Нэгтгэсэн Хот Байгуулалт Болон Төмөр зам

Land Readjustment 17 sites, 3,000ha, 1.2 tri .

yen (9,700M$) Housing & Public faci l i ty, 4.2

tri . yen (34,000M$)

Орон нутгийн засаг захиргаа Хөрөнгө оруулалт болон хүүгүй

зээл, Acquisition of Land in advance

Facil i tating Land Readjustment Urban Renaissance Agency

6 New Towns, 1,421ha, Population 120,000


63

Tsukuba Хурдан Галт Тэрэг – Аюулыг Ялган Онцлох

Tsukuba Хурдан галт тэргийн нэгтгэсэн хөгжил

Нийтийн салбар

Засгийн Газар Enactment of Integrated Development Law in 1989 Хүүгүй зээлийг сунгах Tsukuba Хурдан галт тэргийн нэгтгэсэн хөгжлийг зохицуулах

Орон нутгийн засаг захиргаа Хөрөнгө оруулалт болон хүүгүй зээл Acquisition of Land in advance Urban Planning and Facilitating Land Readjustment around the Stations Urban Renaissance Agency (URA) Proceeding Land Readjustment and Housing Development

Хувийн салбар

Худалдаа арилжааны хөгжил Хөрөнгө оруулах Хөгжлийн санал төлөвлөгөө Орон нутгийн засаг захиргааны цохиуулалт болон URA Synchronize Commercial and Residential Development with Construction of the Railway and the stations Хөгжлийн санхүүжилт Marketing and Management of each Commercial Development

Creation of Attractive Urban Development Corridor and an Urban Railway System in an integrated manner Generation of patronage for the Urban Railway System


64

Tsukuba Хурдан Галт Тэрэг – Rokucho Өртөө


65

Misato Chuou Өртөө


66

PPP Issues in UBMPS PPP Law- BOT Law Draft Sector Laws and Regulations (Railway, Road

and Urban Development), Granting Power, Subsidy, Fare/Toll setting, Bidding and Evaluation Procedure, Institutional Setup, Incentives

Formulation of Attractive Investment Packages Strategic Use of Public Land and Land Use

Right Utilization of ODA Financing Procurement of Long-term Domestic

Financing Capacity Building for PPP Expertise (Project

Structuring, Investment Packaging, Tender Preparation, Bid Evaluation, Contract Negotiation, Project Monitoring, etc.)


67

Хот Байгуулалт Corridor Хөгжлийн төслийн найрлага Нийтийн Хувийн

1. Нийтйин тээвэрлэлт (Сонголт хийгдэнэ)

(1) Төмөр зам

(2) Метро шугам

(3) LRT

(4) Трамвай

(5) Автобусны зам

(6) Автобус/микро автобус

2. Нэгтгэсэн хот байгуулалт

(1) Өртөө/Нэгтгэсэн хот байгуулалттай газрын ойролцоох орчимийн өртөө (2) Inter-modal Complex/Автобусны эцсийн буудал

(3)Туслах төвХариалах дүүргийн төв/Худалдаа арилжаа/Бизнес/зочид будал/Орон сууцын

3. Feeder Related Facil i t ies

4. Гол их зам/ Хурдны зам

5. Бие даасан худалдаа арилжаа/Орон сууцын хөгжил

6. Аялал жуулчлалын уялдаатай хөгжил


68

PPP Investment package

minicipal finance and public private partnership-eng

Documents

urban planning

city master plan

market economy

etcsourcesthe study

singaporethe study

water charge

tax revenueow n revenuetax

matching of cost